Dec 3, 2012 7:30pm PST
the traditional conservative argument is we must have low taxes or the economy won't flourish, but i guess in my mind i think of traditional economy being the post-new deal economy of relatively robust high tax rates on high earners and a social safety net that is part of the social compact. to me that's tradition. that's 80 years. >> that's american. and i've -- you know, i've been working at investments -- well, really i bought my first stock when i was 11 but i started selling stocks when i was 20 and i sold stocks when personal income tax rates got as high as 91%. i've sold them when capital gains rate got as high as 39.6% and we had some wonderful periods of growth and g.d.p. and the middle-class as well as the rich prospered when tax rates were much higher than they are now. >> jon: well, we'll take a commercial and come back and talk about an op-ed that you wrote which laid out some of the math of this and some other financial going on in the world. we'll be right back. more from warren buffett and carol loomis right after this. (cheers and applause). >> jon: welcome back, we'
Dec 5, 2012 10:00am PST
with the ongoing negotiations to save our economy or, as we're calling it, cliffpocalypsemageddonacaust. (laughter) our totally solveable budget problem. (laughter) >> jon: that's scary. four weeks! four weeks, ladies and gentlemen just 20 -- some days. (laughter) our country will be heading over the fiscal cliff that we ourselves dug and put in our way. it's the set of automatic spending cuts and tax hikes that can only be averted if our nation's leaders are able to display bare-bones competence and middle school level maturity. (laughter) so the there a deal. >> there's, of course, no deal. >> jon: of course! is there there a prospect for a deal? >> there's not a prospect for a deal. >> jon: of course! (laughter) but the ongoing talks -- >> there aren't even very many talks going on. (laughter) >> jon: damn! you're kidding us! give us something! >> but for the first time there are numbers on pieces of paper from both sides. >> jon: numbers on paper! (cheers and applause) we have numbers on paper! from both sides! (whispering snvpld we're all going to be o
Nov 30, 2012 7:30pm PST
compromise on a deficit and revenue plan our economy would krafernlt turns out they couldn't compromise. so here's what they did. in order to force themselves to work together and compromise they concocted a catastrophic penalty that would itself crash our economy. brilliant! put it another way. if there is an asteroid headed towards the earth. we made it and fired it at ourselves. (laughter) because otherwise we would never have done the hard work required to protect ourselves from the asteroid. so the asteroid is comings. where are we at. >> if we're serious about reducing the deficit, we have to combine spending cuts with revenue. >> that's kind of an easy-- that seems very solvable. dems want revenue through marginal tax increases on the wealthy. the republicans want entitlement cuts. >> raising tax rates is unacceptable. >> jon: well, let's just check in with the democrats and see where they are at on entitle am reform. >> mr. durbin, the number two man in the senate and other democrats are saying entitlements for this fiscal cliff deal are off the table. >> jon: okay so, the only way